Hapag-Lloyd expects positive 2013

German Hapag-Lloyd improved both its revenues and profits in the first quarter of 2013. Expectations are positive for 2013 as a whole for the shipping company that lost money in 2012, though the second quarter could be tough.

BY LOUISE VOGDRUP-SCHMIDT

Published: 15.05.13 at 11:56

Hapag-Lloyd improved its performance in the year's first quarter. But like Maersk Line and the other Top 20 carriers, the German shipping company will be hit hard in the second quarter by the dramatic rate drop on Asia-Europe.

Hapag-Lloyd's financial report, published Wednesday morning, shows an increased revenue of 50 million Euros, to 1,65 million Euros, and an increase in profits of 45 million Euros, resulting in black numbers on the bottom line with an EBITDA of 24 million Euros in the first quarter, compared to -21.1 million Euros in the same period 2012. Net results were a deficit of 53.2 million Euros in the first quarter, a 46 million Euros improvement compared to the year before.

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